News

Ultrasound Device Maker Vensica Medical Raises $2M

October 16, 2017 | Israeli-based overactive bladder treatment startup Vensica Medical has raised $2 million in a round led by Minnesota-based urology and gynecology device proprietor Cogentix Medical. Cogentix will receive one seat on the Vensica board with options to acquire the entire company for an additional $8 million. Vensica Medical is a private preclinical startup in the process of developing a system to treat overactive bladder (an urgent need to urinate and involuntary loss of bladder control) by using a type of needle-free ultrasound device that will deliver Botox to the bladder using ultrasound technology. Vensica Medical was founded by Avner Geva in 2014.

Microsoft Ventures Launching $3.5M AI Startup Competition

October 15, 2017 | Microsoft Ventures is partnering with Israel’s Vertex Ventures, North America’s Madrona Venture Partners, and Europe’s Notion Capital to launch an AI startup competition in Israel, North America, and Europe. Winners will receive a total investment prize $3.5 million. The Innovate.AI competition will look at very early-stage AI startups in the above mentioned regions and award $1 million to one startup per region. This will be in addition to the $500,000 “AI for Good” prize. All prizes will come with $500,000 Azure credits. Microsoft’s Executive VP of Business Development Peggy Johnson says the competition isn’t about cash, but rather the fact that the partners will really invest into very early-stage startups that aren’t even on anyone’s radar yet. Startups can apply to the Innovate.AI competition until December 31. Microsoft Ventures is the venture capital arm of Microsoft, currently investing in technology companies (Series A and beyond).

Alibaba To Open R&D Center In Israel

October 15, 2017 | Chinese e-commerce company Alibaba is opening an R&D center in Israel. CTO Jeff Zhang revealed at Alibaba’s Computing Conference in China that the company was opening seven R&D centers around the world over the next three years as part of a $15 billion global research program. The R&D labs will be located in Tel Aviv, Beijing, Hangzhou, San Mateo, Moscow, Bellevue, and Singapore. Zhang says Alibaba is looking to recruit 100 talented researchers worldwide in areas like data intelligence, the Internet of Things, fintech, and more. The Chinese firm has greatly expanded in the past year, and is now in direct competition with US e-commerce giant Amazon.

Israeli Sustainable Packaging Group Raises $11M

October 15, 2017 | Israeli and US-based manufacturer, TIPA Sustainable Packaging, an eco-friendly developer of groundbreaking bio-based flexible packaging, has closed an $11 million Series B finance round. Leading the round is Austin Hearst, an owner and director of Hearst Corporation. Austin and Gabriela Hearst were joined by TIPA investors GreenSoil Investments and Horizons Ventures. The company hopes this new round will allow it to expand sales in new territories as develop new generations of sustainable packaging solutions for a wider amount of food and non-food goods. TIPA, whose office is based in Hod HaSharon, was founded by Daphna Nissenbaum and Tal Neuman. It’s products are available in the US, France, England and the Netherlands.

Beersheva ‘DNA Bridge’ Wins International Award

October 11, 2017 | The Beersheva High-Tech Park Bridge was chosen by a panel of judges to win the long span category at the triannual Footbridge Awards. This bridge, also called the double-helix bridge or DNA bridge, for its unusual design, links Beersheva’s University railway station with the Gav Yam High Tech Park, next to the Ben Gurion University of the Negev. The $25 million bridge opened in January 2016. The bridge, commissioned by the Beersheva municipality, was designed by Bar Orian Architects with Rokach Ashkenazi Engineers taking part as structural engineers. Lighting design was by Orly Avron-Alkabes. The Footbridge Awards 2017, which highlight the best in bridge design, renovation, and lighting for cycling, pedestrian, and equestrian bridges, are presented once every three years. The long span category is for new footbridges with a maximum span greater than 75 meters. Beersheva’s bridge beat out competitors from Canada and New Zealand. Beersheva’s bridge was announced as the winner in the 6th International Footbridge Conference in Berlin. [Photo: Ben Gurion University of the Negev]

Apax Israel Acquires 3M’s Electronic Monitoring For $200M

October 11, 2017 | Investment firm Apax Israel has completed the acquisition of 3M’s electronic monitoring business for $200 million. Based largely in Israel, the business’s electronic monitoring technologies are used by law enforcement agencies in at least 34 countries with annual sales at about $95 million. The business will be renamed Attenti, the name of the Israeli company which was acquired by 3M for $230 million in 2010. Originally called Dmatek, Attenti offers a range of Global Positioning Systems (GPS), Radio Frequency (RF), alcohol verification monitoring, and tracking solutions, through an integrated software monitoring platform.

Life Sciences Group Lonza To Open Innovation Center In Israel

October 11, 2017 | Swiss pharma and biotech supplier Lonza announced it will establish an innovation center in Haifa Economic Corporation’s life sciences park. The 1,000 square meter Lonza Collaborative Innovation Center will begin operating by the end of 2017. Fifteen to 20 researchers are expected to be working there in 2018. Lonza plans to use the center to accelerate its R&D projects in its pharma and biotech divisions, while gaining exposure to Israel’s strengths in engineering, molecular biology, cellular biology, software, and tech. Lonza has already signed a memorandum of understanding with each schools like Tel Aviv University, Technion – Israel Institute of Technology, and Weizmann Institute of Science and has begun conducting an initial survey to find breakthrough technologies. The Basel, Switzerland-based Lonza Group supplies products and services to pharmaceutical and agrochemical industries. [Photo: Lonza]

Azura Ophthalmics Raises $16M

October 10, 2017 | Israeli clinical-stage biotechnology company Azura Ophthalmics has raised $16 million in a Series B funding round led by investors that include a syndicate of Orbimed, TPG Biotech, and Brandon Capital’s Medical Research Commercialization. There was also participation from existing investor Ganot Capital. The company, based in Tel Aviv, will use the funds to advance their development of a drug therapy for meibomian gland dysfunction (MGD) to the next stage of their clinical research. The company’s current treatment is being prepared for a Phase IIa trial. Meibomian glands in eyelids produce an oily layer that forms the outermost layer of tears. If not treated, MGD affects tears, causes eye irritation, inflammation and severe dry eye often leading to Dry Eye Disease.

Israeli Firm Chosen To Develop Robot First Responders

October 8, 2017 | Israeli emergency communication provider Beeper Communications and US robotic systems developer Mantaro Networks have been chosen to receive funds from the Israel-US Binational Industrial Research and Development (BIRD) Foundation to develop robots and other search and rescue technologies as first responders. The two companies will receive a $900,000 award over an 18-month period as part of the Unmanned Search and Rescue Systems (USRS) project for the foundation’s NextGen Responders program. Since 1988, Beeper Communications is Israel’s leading provider of emergency communication services for security, military, and homeland defense organizations. The BIRD Foundation was founded in 1977 as an Israel-US partnership organization that sponsors R&D projects in the scientific and technological sector.
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ForeScout Technologies Files For $100M Nasdaq IPO

October 8, 2017 | Israeli-founded information security company ForeScout Technologies has filed for a public offering of up to $100 million. Underwriters for the initial public offering are Morgan Stanley and J.P Morgan. The company intends to trade on Nasdaq under the symbol FSCT. To date, ForeScout has raised more than $125 million. While it currently has locations in San Jose, California, and Tel Aviv, it was originally founded in Israel in 2000 by Israeli-born founders Oded Comay, Dror Comay, Hezy Yeshurun, and Doron Shikmoni.

Israeli Storage Company Raises $95M

October 8, 2017 | Israeli digital storage company Infinidat has raised $95 million in a Series C fundraising round led by Goldman Sachs Private Capital Investing, with participation from previous investor TPG Growth. This brings the company’s total equity funding raised to $325 million. The company is now valued at $1.6 billion. Infinidat was founded in 2011 by Israeli-born engineer Moshe Yanai, who is currently the company’s CEO. The company currently has headquarters in both Herziliya, Israel and Waltham, Massachusetts. There are also offices in over 15 countries worldwide. Infinidat offers enterprise data cloud storage solutions to telecommunication firms, banks, and cloud service providers. [Photo: Thompson Reuters]

Technion Graduates Win BizTEC 2017

October 3, 2017 | Three graduates from the Technion – Israel Institute of Technology have won the BizTEC 2017, an entrepreneurship program run by students at Technion’s Bronica Entrepreneurship Center, which has raised over $300 million over the years. The three graduates developed NowTecc, a technology that provides insight into network behavior by analyzing user preferences while still maintaining user privacy. BizTEC is a leading tech entrepreneurship program in Israel founded in 2004 as part of Technion’s Bronica Entrepreneurship Center with the goal to encourage and promote entrepreneurship among students at Israeli academic institutions. Its Demo Day took place on September 26 at the Tel Aviv Stock Exchange this year where 120 Israeli students and alumni applied to the program. Twelve of these students reached the final change. NowTecc, run by graduates Anastasia Logvinenko, Taly Bonder, and Tal Yahav, have won $10,000 donated by David Cohn from Phoenix. Three other groups placed second and won a prize of $3,300. [Photo: BizTEC]

Farming Tech Startup Phytech Raises $11M

October 2, 2017 | Israeli-based agricultural tech startup Phytech has raised $11 million in a funding round led by Tencent Holdings. Swiss seed and pesticide developer Syngenta and other investors also participated in the round. Phytech develops sensors and other applications that monitor irrigation levels and plants, offering recommendations through a mobile app to help farmers manage crops and increase profits. The investment will support the growth of this company in new locations. Phytech was founded in 1998 by Zohar Benner. [Photo: HypnoArt]

Heart Device Maker Magenta Medical Raises $15M

October 2, 2017 | Magenta Medical, a medical device company specializing in the treatment of acute heart failure, has raised $15 million in a Series B financing round led by transcatheter hearts pump leader Abiomed Inc. and international venture capital firms Pitango Venture Capital (Israel) and JAFCO Co. (Japan.) Also contributing to the round are a group of private investors made up of industry and cardiovascular experts led by Professor Jacques Seguin. Seguin is a renowned cardiac surgeon, entrepreneur and founder of CoreValve Inc., a transcatheter developer acquired by medical technology leader Medtronic in 2009. He has since joined the Magenta Board of Directors. Magenta Medical was founded by Ehud Schwammenthal and Yosi Tuval in October 2012.

Life Sciences Co Integra Holdings Raises $25M

September 27, 2017 | Israeli life sciences innovations company Integra Holdings has raised $25 million in their latest funding round, led by Singapore-based company Temasek. Temasek raised $15 million for the company and was joined by investment fund Arie Capital, who added to $2 million to the current round. The Israeli Teachers’ and Kindergartens’ Study Funds, who are Integra shareholders, also took part in the round. Integra Holdings is based at the Hebrew University of Jerusalem where the funds will be used to advance their current companies and launch new companies, based on new technologies developed at the University. [Photo: typographyimages]

Mayo Clinic Buys Israeli Sleep Apnea Device

September 28, 2017 | The Mayo Foundation for Medical Education and Research (Mayo Clinic) has purchased the WatchPAT device, an FDA-approved sleep apnea home testing device developed by Israeli medical diagnostics company Itamar Medical. The purchase agreement was signed for three years starting May 2017, with automatic renewal possible for one-year periods moving forward. Itamar Medical estimates the purchase will not impact its expected revenue and profit. Itamar Medical was founded in 1997 by Giora Yaron and Peretz Lavie in the Israeli coastal city of Caesarea. The medical company develops and manufactures medical technology products including non-invasive diagnostic devices for sleep disorders and cardiovascular diseases. [Photo: Clare Black]

Israel Innovation Authority Launches Tender For Biotech Incubator

September 27, 2017 | The Israel Innovation Authority launched a new competitive tender to open its second biotech incubator. The incubator will be located in Northern Israel. It will serve as a space for multinational pharmaceutical industries and investment funds to support Israeli startups. The incubator will help Israel’s pharmaceutical industry by connecting investors with strategic partners, who will work together to find innovative tech projects they can help convert and reshape into new companies. A previous tender won by Israeli biotech accelerator FutuRX spurred the Authority’s decision to launch a new competitive tender. The FutuRx incubator has already invested in the establishment of 10 startups. This tender is responsible for bringing Johnson & Johnson from the US and Takeda from Japan to Israel.

Israeli Content Platform Playbuzz Raises $35M

September 27, 2017 | Israeli interactive content platform Playbuzz has raised $35 million in a Series C funding round led by Viola Growth with help from investors that include Disney, Carmel Ventures, and more. This round brings the company’s total amount raised to $66 million. Playbuzz will use the investment to grow its branded content worldwide, as well as distribute new advertising campaigns. The company, providing publishers with a free way to enhance their brand with more viral content, was founded in July 2012 by Shaul Olmert and Tom Pachys. [Photo: TeroVesalainen]

Analytics Startup Panoply Raises $6M

September 19, 2017 | Israeli analytics startup Panoply has raised $6 million in a financing round led by C5 Capital, which brings its total equity to $13 million. Founded in 2015 by Roi Avinoam and Yaniv Leven, the startup delivers fast insights by eliminating the development and coding typically associated with transforming, integrating, and managing big data.

Israeli AR Startup Augmedics Raises $8.3M

September 18, 2017 | Israeli startup Augmedics, a developer of an augmented-reality (AR) surgical visualization system, has raised $8.3 million in a Series A funding round led by Davos, Switzerland-based AO Invest, the Israeli Innovation Authority, Terra Venture Partners and other undisclosed investors. Augmedics will use the proceeds to complete research and development as well as pre-clinical and clinical trials of its ViZOR System. Founded in 2012 by Nessi Benishti and Nissan Elimelech, the company has so far raised $10.1 million.

Israeli AI Startup Zeitgold Raises $11.97M

September 13, 2017 | Zeitgold, an Israeli AI company based in Berlin, just raised $11.97m in Series A funding. The company offers a solution for small businesses who want to save time managing their finances. Zeitgold’s end-to-end solution allows cafes, restaurants, and other small businesses to manage bookkeeping, payroll, invoices, and more through coordination with a tax adviser on a smartphone. The funds will be invested in a new Tel Aviv-based R&D facility as well as testing new products with customers. Zeitgold was founded in 2015 by Stefan Jeschonnek, Jan Deepen, and Kobi Eldar.

Technion Opens Cornell Tech on New York’s Roosevelt Island

September 14, 2017 | The Technion-Israel Institute of Technology has just marked a new milestone in its partnership with Cornell University. The Institute has just opened Cornell Tech, a tech-focused graduate school on New York’s Roosevelt Island. The campus is a new spot for the growing technology and innovation scene in New York. It will expand the Jacobs Technion-Cornell Institute, a cornerstone of Cornell Tech. The Jacobs Technion-Cornell Institute was established in 2013 with the help of a $133 million donation from Dr. Irwin Mark Jacobs, founding chairman and CEO emeritus of Qualcomm and Joan Klein Jacobs. [Photo: Julienne Schaer]

Tel Aviv University Ranks 9th In the World For Startup Founders

September 13, 2017 | Tel Aviv University has been ranked 9th in the world for producing successful startup founders, according to the 2017 PitchBook report. It ranks above American university Yale, Princeton, and UCLA. The PitchBook report says 582 TAU entrepreneurs started 486 companies raising initial capital from investors. Tel Aviv University has ranked in PitchBook’s top 10 for four years and is the only one in the top 10 located outside of the United States. The report ranked Technion – Israel Institute of Technology in 14th place and Hebrew University of Jerusalem in 35th place. PitchBook gathers information to provide analysis regarding startups and venture capital for investors. [Photo: tec_estromberg]

Former Intel VP Sets Up NIS 400M Fund To Invest In High-Tech Startups

September 13, 2017 | Tamir Fishman investment house CEO Eldad Tamir, and former Intel vice president Dedi Perlmutter are launching a new technology-related investment fund worth NIS 400 million ($113 million). The fund, Eucalyptus, is a spinoff of a previous fund started by by both investors in 2015. The original fund was discontinued. The new fund is part of a tender published by the Ministry of Finance and the Israel Securities Authority designed to provide funding to startups. An IPO on the stock exchange is already being considered, with capital to be raised from institutional investors.

Medtronic Opens New Israeli Development Centers

September 12, 2017 | Medical equipment company Medtronic is the first company to establish new development centers in Israel through the Israel Innovation Authority. The firm will receive a $14 million grant from the Innovation Authority in return for hiring 100 extra employees in their new development center in Jerusalem and Yokneam. Medtronic already has cooperation with the Israeli medical equipment industry as it has 750 employees in Israel out of 85,000 employees worldwide. The company was founded by Palmer, Hermundslie, Daniel Grossman, Earl Bakken, and Patrick Wells.